Number of Unemployed continues to climb worldwide

More than 200 million without jobs: Number of Unemployed continues to climb worldwide

The tendency is clear, and experts are alarmed: there more and more people are unemployed worldwide – alone in this year three million more. Hundreds of millions more work under insecure employment conditions.

The United Nations have expressed concern over this development in global job markets. The number of people looking for employment will grow in 2017 by 3.4 million, according to the International Labour Organization (ILO) in Geneva. As a result, the number of unemployed worldwide will reach 201 million. In 2018 the number will rise to almost 204 million.

On account of the ever increasing world population, the global unemployment rate for the years 2017 and 2018 will remain at 5.8%.

ILO states that the continued unemployment problem is due to weak growth in the global economy. In addition, the world still has to repair the damage caused by the financial crisis of 2008, according to ILO General Director Guy Ryder.

1.4 Billion People Financially at Risk

(Note: this is what is really alarming)

Ryder characterized the growing number of people who earn their living under precarious conditions as “alarming”. In the current year 1.4 billion working people are socially unprotected (meaning that, should they lose their jobs, they would receive too little or no financial assistance.)

These people work as, for example, day laborers or as household staff and have, as a rule, no unemployment, health or retirement insurance. Most of them live in poor regions such as southern Asia and Sub-Saharan Africa. Ryder demanded that governments there work to create “decent” jobs with social insurance.